Developing your list of target accounts is the first and crucial step to get started with account based marketing (ABM). Check out some tips to create a list.
Account based marketing (ABM) refers to using highly targeted, customized campaigns to win over particular accounts. Here, each individual account will be considered as market in its own. The marketing team can create content, events, and the entire campaign will be dedicated to the people associated with that company, rather than the industry as a whole.
B2B marketers will be considering a defined list of target accounts who are more likely to become their customers. Building a list of target accounts is the key step for success in account based marketing campaign.
Make sure that your list-building process involves these important steps
Choose the right criteria
An easier and simpler approach to select the target accounts is to identify the vertical industries your sales and marketing teams are already targeting. Choose those accounts from the industry you are focusing on, let that be finance, retail or manufacturing. Also check whether location is a factor in choosing them. While considering this approach, you can make use of quantitative and qualitative data. For quantitative data, review your CRM database to identify. For the qualitative data, try communicating with your salespeople and any relevant members of the marketing team.
Another approach is to follow your sales team’s account list is aligned, if they have a set of strategic accounts. You can include them in your target account list. Your team would have done business with the account before or they might have an existing relationship with some of them in the list.
Identify specific accounts
Once your account category is determined, next step is to choose specific accounts that fit your market. The best option is to communicate directly to current prospects or the companies you’d like to target. Do extensive research, find out companies that fits your criteria and add them to your list, if you believe you can add significant value. This selection must also be based on the opinion from relevant members of your marketing and sales teams, who may have interacted with those accounts in the past.
You can also choose from the accounts that are visiting your site. You can use web tracking tool to identify the companies that are visiting your site, even if they hand over any information or not. Results can be filtered based on your ideal customer profile (ICP), find their contact details and pitch them.
Also use your existing accounts, as this is the strongest source of leads for you. You will also be familiar with these company services and you know their unique requirements. Make sure to provide your current picture with additional research for diverse departments in these companies.
Research the chosen accounts
So after determining your targets and identifying specific accounts and making an initial list, now it is time to research the chosen accounts. Collect detailed information like the company structure, key players in the company of your ideal business customers. If you know the influencers in that company, you can also consider dictating how to convey your product or service to those targets. There are also chances that your team may already have those information, which once they previously researched, but didn’t complete the ABM process. Manual research is crucial if you don’t have any such details in hand. You can also use social media platform LinkedIn to find out those target data with a fairly simple advanced search.
Hope this checklist helps determine your target account list. Though there is no standard approach to for making a target list of the ABM process, it is one of the most vital steps.